There have been rumors swirling for weeks that the casino-formerly-known-as the Revel would be sold. Owner Glenn Straub denied them. Then yesterday the Press of Atlantic City’s Nicholas Huba reported that a New York City-based private equity shop offered Straub $220 million for the property in the last 10 days. Straub said he knew nothing about it. And then, from all that buzz around AC, we had the more sobering casino revenue numbers. Casino revenue is up slightly from last year, thanks to the still-rapidly-growing internet gaming sector. Bally’s is still struggling. Tropicana, Caesar’s, Resorts and the Golden Nugget have seen double-digit gains in the year through June. Details via the Division of Gaming Enforcement.
A new round of federal funding means that 30 different police forces along the Jersey Shore have posted undercover officers inside and outside liquor stores this summer, as part of a wider crackdown on underage drinking. Some Atlantic County offshore towns, including Galloway, Egg Harbor Township and Northfield, are also part of the program. Margate, which made national headlines this year after teens brawled on the beach, is not part of the project. Details here via NJ 101.5.
Murphy & South Jersey
Beyond his wads of cash, we still don’t know a whole lot about Democratic nominee for governor Phil Murphy. He visited Atlantic City yesterday to meet with local elected Democrats and also had a closed-doors meeting with the city’s firefighters. He made strong statements about supporting unions and he also (again) criticized the state takeover of Atlantic City. Christian Hetrick has the details for Observer.
This morning, the New Jersey Economic Development Authority announced a new plan that will offer reimbursement of a percentage of lease payments to for-profit and non-profit (hi AC DevCo!) entities in Atlantic City. Unfortunately, it applies to a very small tract in the tourism district, but it could help planned projects on Tennessee and Kentucky avenues.
In the rest of the day’s headlines, Gymboree at the Hamilton mall and elsewhere is closing (another victim of the retail-store revolution), the Pink beach concert in AC was a huge hit by all accounts (that one via Philly.com), a new study says some 130 communities in New Jersey could be flooded every other week by the end of the century, the heat index is approaching triple digits today (stay hydrated), the ACUA says it is open to talks regarding the Atlantic City water authority, and a lot of people are waiting to see whether Gov. Christie will sign a family leave bill. All that and more below: